Ross Perot Jr.’s Dallas-based company has busted into the metro Phoenix market with the $10.8 million purchase of roughly 72.5 acres of land in southwest Phoenix where it’s planning a massive industrial development.

The Business Real Estate Weekly of Arizona first reported the news. The buyer, Perot Jr.’s Hillwood Investment Properties, has not yet responded to my request for comment on the deal.

Records in the Maricopa County Recorder’s Office and with the Arizona Corporation Commission confirm Hillwood as the buyer and the transaction taking place on Sept. 20.

The land is located at the southwest corner of 75th Avenue and Buckeye Road, and records show the acquisition was financed through a $22.2 million loan from Fifth Third Bank, which BREW said will also help fund construction of the site.

BREW said blueprints call for about 1.3 million square feet of new industrial space.

Patrick Feeney, Hillwood’s broker with CBRE Inc. in Phoenix, said it’s unlikely this will be a built as a speculative development, but wasn’t sure whether any tenants have been lined up yet.

It’s also unclear whether that space will be split out into several buildings or be one huge facility. But a recent article by Vizzda News gave some insight.

“An interesting wrinkle in the financing gives an indication of the scope of planned development: Hillwood must seek approval from Fifth Third to enter into a lease for less than 340,670 (square feet) for seven years to a Standard and Poor’s BBB-rated company at a fully net rate of $4.08 per square foot,” Vizzda said.

The land was sold by Phoenix-based Swift Transportation Co. (NYSE: SWFT).